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European Shares Close at Two Month Low

By

Sarah Turner

Updated Nov. 19, 2007 12:55 p.m. ET

European stocks closed with heavy losses on Monday, with insurance stocks under pressure after Swiss Re said it will take a $1.1 billion hit from exposure to the U.S. subprime housing market and with losses snowballing toward the close as a selloff on Wall Street further weighed on sentiment. (See related article.)